Zclassic (ZCL)

Rank #2376

Zclassic (ZCL) is a cryptocurrency created as a fork of Zcash, with changes aimed at removing components linked to the founder's reward and slow start. The proposal is to maintain technology similar to Zcash, but without directing fees or predefined rewards to a specific group.

How Zclassic works

On the Zclassic network, mining follows the principle of a "fair" reward for miners, supporting development by the community. Compared to Zcash, Zclassic removes the 20% portion known as the Founder’s Reward, which in Zcash is sent to an address controlled by Zero Coin Inc. and is part of consensus maintenance through blocks.

Project objective and mission

Zclassic's mission is to maintain technological similarity with Zcash, but without pre-mine, founder’s reward, or other fees directed to individuals with special permissions. The approach avoids trying to “engineer” scarcity, allowing market behavior to determine the price.

Technology, security, and parameters

Zclassic uses parameters from a “trusted setup meeting” in which Peter Todd participated, with validation that they are safe for use. The source text also states that, even if only one participant had kept their key secret and destroyed it, the system would remain secure.

Where Zclassic fits in the ecosystem

As it is a fork of Zcash and focused on privacy, Zclassic is directly related to the Privacy Coins segment. In addition, due to its mining-based operation, it falls under Proof of Work (PoW) and operates as a Layer 1 (L1) network.